Yesterday morning, the Small Business Administration (SBA) released a statement from Karen Mills, SBA Administrator, announcing her departure as soon as a replacement could be found. “After four years as Administrator of the SBA, I have let President Obama know that I will not be staying for a second term. I will stay on until my successor is confirmed to ensure a smooth and seamless transition,” states Mills, who was appointed to her position by President Obama in 2009 and had her position elevated to cabinet level in 2012.

John Arensmeyer, founder and CEO of small business advocacy organization Small Business Majority says: “Small businesses lost a strong advocate today with the resignation of Karen Mills, administrator of the Small Business Administration. Her work to expand access to capital, encourage investment and promote job creation was critical for small businesses, especially during these difficult economic times.”

For more from Karen Mills, visit